Month: August 2024

Aug
09
2024
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By Lily Chang
Ismael ‘El Mayo’ Zambada plans to travel to New York to stand trial on drug trafficking charges

Ismael ‘El Mayo’ Zambada plans to travel to New York to stand trial on drug trafficking charges

Politics
The U.S. Department of Justice has assigned the case against Ismael “El Mayo” Zambada to the Eastern District of New York. There, he is expected to face multiple charges, including drug trafficking, according to declassified documents verified by a knowledgeable source. Now 76, Zambada was arrested in El Paso, Texas, and has appeared twice in state court. The timing of his transfer to New York remains unclear, with estimates suggesting it could happen within the next few weeks, according to a source familiar with the details. Despite efforts by the Eastern District of Texas to keep the case, a decision…
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Aug
09
2024
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By Lily Chang
10-year Treasury yields fall as investors await crucial jobs data

10-year Treasury yields fall as investors await crucial jobs data

Social Responsibility
The momentum in U.S. Treasury yields faded on Thursday, as global stocks cooled and expectations for upcoming economic indicators increased. The 10-year Treasury note yield fell 4.8 basis points to 3.92% early Thursday morning. This marked a slight recovery from the lowest point since June 2023, seen earlier in the week. Meanwhile, the 2-year Treasury note also fell, falling about 4 basis points to 3.959%. The inverse relationship between yields and bond prices continues, with a single basis point representing a 0.01% change. Global stock markets appeared to be lingering in a cautious state, following a broad-based decline earlier in…
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Aug
09
2024
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By Lily Chang
Paramount Global makes significant workforce reductions in the U.S. and second-quarter earnings boost shares

Paramount Global makes significant workforce reductions in the U.S. and second-quarter earnings boost shares

Investments and Business
Paramount Global has announced a 15% reduction in its U.S. workforce, in line with a global cost-cutting strategy in anticipation of its upcoming merger with Skydance Media. The company disclosed plans to achieve $500 million in cost savings, contributing to a larger $2 billion in synergies expected from its merger with Skydance. The upcoming layoffs, scheduled to begin soon and be completed by the end of the year, will primarily affect departments such as marketing, communications, finance, legal, technology and other support roles, the company noted in its recent earnings conference call. Last month, Paramount confirmed its merger with Skydance…
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Aug
09
2024
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By Lily Chang
The impact of AI on U.S. hiring processes

The impact of AI on U.S. hiring processes

Science and Technology
MIAMI, UNITED STATES — As the digital landscape evolves, job search portals continue to expand their reach, connecting countless job opportunities with potential candidates. However, despite this technological boon, the recruiting industry faces new challenges. Large recruiting firms are overwhelmed by the sheer volume of applications, making individual review a daunting task. Greenhouse, a leading U.S. recruiting firm, reported a staggering 71% increase in sales inquiries in the past year alone. In response, many companies are turning to artificial intelligence (AI) to streamline the hiring process. AI systems, equipped with algorithms that analyze specific keywords, are now key to distinguishing…
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